57,340 Shares in Figure Technology Solutions, Inc. $FIGR Bought by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP bought a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 57,340 shares of the company’s stock, valued at approximately $2,342,000.

Several other institutional investors also recently added to or reduced their stakes in FIGR. Global Retirement Partners LLC acquired a new stake in shares of Figure Technology Solutions in the fourth quarter worth $25,000. Strs Ohio bought a new stake in Figure Technology Solutions in the 4th quarter valued at $34,000. Flagship Harbor Advisors LLC acquired a new stake in Figure Technology Solutions in the 4th quarter worth $40,000. SBI Securities Co. Ltd. bought a new position in shares of Figure Technology Solutions during the 3rd quarter worth about $66,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Figure Technology Solutions during the 3rd quarter worth about $73,000.

Analyst Upgrades and Downgrades

FIGR has been the subject of several research reports. Bank of America reduced their target price on shares of Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Mizuho upped their target price on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Sanford C. Bernstein cut their target price on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 30th. Finally, Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.63.

Insider Buying and Selling

In related news, Director Sachin Chand Jaitly sold 216,713 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $33.64, for a total value of $7,290,225.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Todd Stevens sold 49,708 shares of Figure Technology Solutions stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $32.02, for a total value of $1,591,650.16. Following the transaction, the insider owned 436,089 shares in the company, valued at approximately $13,963,569.78. This represents a 10.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 728,641 shares of company stock worth $25,288,002 over the last ninety days. Insiders own 26.60% of the company’s stock.

Figure Technology Solutions Price Performance

Figure Technology Solutions stock opened at $34.73 on Friday. The business has a 50-day moving average of $35.05 and a 200-day moving average of $40.07. Figure Technology Solutions, Inc. has a 1 year low of $25.01 and a 1 year high of $78.00. The firm has a market capitalization of $6.34 billion and a P/E ratio of 59.88. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. On average, equities analysts anticipate that Figure Technology Solutions, Inc. will post 0.94 EPS for the current year.

Figure Technology Solutions declared that its board has authorized a share repurchase plan on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Figure Technology Solutions Company Profile

Figure is building the future of capital markets using blockchain-based technology. Figure’s proprietary technology powers next-generation lending, trading and investing activities in areas such as consumer credit and digital assets. Our application of the blockchain ledger allows us to better serve our end-customers, improve speed and efficiency, and enhance standardization and liquidity. Using our technology, we continue to develop dynamic, vertically-integrated marketplaces across the approximately $2 trillion consumer credit market and the rapidly growing approximately $4 trillion cryptocurrency and digital asset market.